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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities      
Net earnings $ 137,116 $ 160,627 $ 119,833
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 87,344 63,348 54,317
Write-off of assets relating to restructuring and other exit charges 10,986 26,308 3,736
Impairment of goodwill 39,713 0 0
Impairment of indefinite-lived intangibles 4,549 0 0
Derivatives not designated in hedging relationships:      
Net losses (gains) 178 1,856 (180)
Cash (settlements) proceeds (793) (1,802) 43
Provision for doubtful accounts 4,821 1,385 822
Deferred income taxes (16,486) (6,456) (20,313)
Non-cash interest expense 1,673 1,316 1,603
Stock-based compensation 20,780 22,608 19,453
(Gain) loss on disposal of property, plant, and equipment (86) (258) 116
Changes in assets and liabilities, net of effects of acquisitions:      
Accounts receivable 26,486 5,974 (32,242)
Inventories (9,379) (46,614) (38,075)
Prepaid and other current assets (17,508) (20,195) 14,470
Other assets 3,089 (7,611) (1,150)
Accounts payable (33,490) 9,944 21,266
Legal proceedings accrual 0 7,258 0
Accrued expenses 7,055 (4,937) (26,614)
Other liabilities (12,650) (14,896) 93,963
Net cash provided by operating activities 253,398 197,855 211,048
Cash flows from investing activities      
Capital expenditures (101,425) (70,372) (69,832)
Purchase of businesses (176,548) (654,614) (2,988)
Proceeds from sale of facility 720 0 0
Insurance proceeds relating to property, plant and equipment 403 0 0
Proceeds from disposal of property, plant, and equipment 2,031 1,103 463
Net cash used in investing activities (274,819) (723,883) (72,357)
Cash flows from financing activities      
Net (repayments) borrowings on short-term debt (5,325) 37,424 214
Debt issuance costs (4,607) (1,393) (2,677)
Finance lease obligations and other 995 368 (29)
Option proceeds 1,417 9,048 958
Payment of taxes related to net share settlement of equity awards (6,393) (3,630) (7,489)
Purchase of treasury stock (34,561) (56,436) (121,191)
Dividends paid to stockholders (29,705) (29,743) (29,674)
Net cash provided by (used in) financing activities 62,683 346,577 (166,888)
Effect of exchange rate changes on cash and cash equivalents (13,495) (43,455) 49,986
Net increase (decrease) in cash and cash equivalents 27,767 (222,906) 21,789
Cash and cash equivalents at beginning of year 299,212 522,118 500,329
Cash and cash equivalents at end of year 326,979 299,212 522,118
Non-cash investing and financing activities:      
Common stock issued as partial consideration for Alpha acquisition 0 93,268 0
2017 Revolver borrowings      
Cash flows from financing activities      
Proceeds from borrowings 386,700 531,100 379,750
Repayments of borrowings (517,700) (427,600) (244,250)
2027 Notes      
Cash flows from financing activities      
Proceeds from borrowings 300,000 0 0
2011 Revolver borrowings      
Cash flows from financing activities      
Proceeds from borrowings 0 0 147,050
Repayments of borrowings 0 0 (312,050)
Amended 2017 Term Loan      
Cash flows from financing activities      
Proceeds from Amended 2017 Term Loan 0 299,105 150,000
Repayments of 2011 Term Loan (28,138) (11,666) 0
2011 Term Loan      
Cash flows from financing activities      
Repayments of 2011 Term Loan $ 0 $ 0 $ (127,500)